Bancolombia brings Basel III to Colombia
Colombia’s largest lender, Bancolombia, raised $750m of tier two subordinated bonds this week in the first Basel III-compliant transaction from the country.
Baa2/BBB-/BBB rated Bancolombia, which had started a tender offer for some older bonds last week, announced initial price thoughts of low to mid 5% area for its Ba3/BB+ rated 10 year notes on Wednesday morning, and the rare issuer soon attracted $3.8bn of orders.This allowed leads Bank of ...
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